Sports Betting Will Hit New Records During Super Bowl – mentioned DKNG & PDYPY, updated by James R. Wigen, Sr. Portfolio Manager at Independent Financial Management

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Market Expectations in 2024?
My expectations for this year will be markets full of volatility, however, by the end of 2024, the markets will be higher from where they ended in 2023.

This growth will continue as long as the Technology Sector leads the way, and all signs are showing it will.

Part of the reason I think the markets will be higher, is due to 2024 being a Presidential Election year, which historically shows positive returns for the markets.

The sitting President will do everything they can to not allow a recession to form in 2024 ahead of his re-Election.

How can they do that you ask, one way could be to put a little pressure on the Federal Reserve to Add Liquidity to the markets, Aggressively cut Federal Funds Rate, which will keep investors excited for the future, and markets in rally mode.

In 2024, the volatility will come from Mediocre Economic Data causing markets to rise with anticipation Fed Funds Rate will be cut, followed by Mediocre Earnings Announcements with Lowered Forward Guidance by companies, causing the markets to decline.

Lowered Future Expectations by companies will worry investors that current stock prices can't justify Lowered Future Expectations, causing a market sell-off.

So, WHAT DO I DO YOU ASK, keep investing in Pre-Tax accounts, especially if you are in a 30%-40% Tax Bracket, like 401Ks, Solo 401Ks, SEP & Simple IRAs, sit in Cash / Money Market Funds & collect your 4.75%+ yield, and Very Slowly Buy Stocks Fitting Within Your Risk Profile on market declines.

Negative Markets create Opportunity, although at the time, it seems very uncomfortable to Buy!

If you are looking to Earn Additional Income from your portfolio this year, look into a strategy called "Selling Covered Call Options".

This strategy can be a great source used to create Income from Stocks you already own.

For Stock ideas, Contact Me and I Will Evaluate Your Risk Profile.
401K & Solo 401K / IRA / Roth IRA Contribution Limits for 2024
If you are under the age of 50, max contribution is $7,000 & if over 50 it's $8,000 for your IRA & Roth IRA.

Your 401K limit is $23,000 if under 50, $30,500 if over 50 years old.

For individual business owners, Solo 401K contributions in 2024 increased to $69,000 or $76,500 if age 50 or over.

Solo 401K contributions are based net- income from Self-Employment (i.e. you can't contribute more than you make).
How Much Should I Pay my Financial Advisor or Portfolio Manager?
The fees you will pay a Financial Advisor generally depend on how much money you are asking the Advisor to manage & whether part of those investment dollars include your 401K.

Try to avoid dealing with Financial Sales People who only want to charge you Commissions or try and Sell you A-share Mutual Funds.

On the sports gambling front, the American Gaming Association projected on Tuesday that a record 31.4 million Americans would bet $7.6 billion on the Bengals-Rams game. That’s up from $3.3 billion wagered on the 2021 Super Bowl between the Brady-led Tampa Bay Buccaneers and Chiefs.

AGA estimates 55% of gamblers will bet on the Rams winning Super Bowl 56, while 45% are betting on the Bengals.

Data from FanDuel (PDYPY) shows the Rams as the favorite to win by four points or less, but 59% of its handle is on the Bengals. Also, as of Tuesday, DraftKings’ (DKNG) data shows 54% of its handle on the Bengals, too.

Sports betting is now legal in 30 states and Washington D.C. Last month, New York finally arrived on the market and lured a record $1.6 billion in wagers. It became the top sports betting market in the U.S surpassing New Jersey.

James CPM® designation was supplied by Global Academy of Finance and Management or GAFM®

Investing involves serious risks and past performance is no guarantee of future performance or success. This is not an offer to buy or sell securities and nothing contained herein should be interpreted as a recommendation regarding any investment or investment strategy. Before making any decision to invest, first read the relevant disclosures and important information provided to you.

Please take the proper risk for your current situation and get the advice from a financial professional who clearly understands your current & future goals and objectives.

Investments are NOT FDIC INSURED * MAY LOSE VALUE * NO BANK GUARANTEE

All opinions expressed by James R. Wigen on this website are solely his opinions and do not reflect the opinions of IFP Advisors, LLC, dba Independent Financial Partners, (IFP). Investment Advice offered through IFP Advisors, LLC, dba Independent Financial Partners (IFP), a Registered Investment Adviser. IFP and Independent Financial Management, LLC (IFM), are separate entities.

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Sports Betting Will Hit New Records During Super Bowl – mentioned DKNG & PDYPY, updated by James R. Wigen, Sr. Portfolio Manager at Independent Financial Management

On the sports gambling front, the American Gaming Association projected on Tuesday that a record 31.4 million Americans would bet $7.6 billion on the Bengals-Rams game. That’s up from $3.3 billion wagered on the 2021 Super Bowl between the Brady-led Tampa Bay Buccaneers and Chiefs.

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